Protect WeekProtecting older Americans from financial exploitation

The average victim of elder financial abuse loses upwards of $120,000. Recognizing financial abuse as the most common type of elder abuse, and accepting responsibility as a first-line defense, Maryland nonprofit financial counseling agency, CCCSMD and AARP Maryland are leading a statewide awareness campaign in collaboration with Maryland Attorney General Brian Frosh, the Maryland Department of Aging, the Maryland Commissioner of Financial Regulation, and a Coalition of state agencies, Project SAFE, and other community partners to “Protect Older Americans from Financial Exploitation” — declared PROTECT Week.

WHAT TO DO IF YOU SUSPECT FINANCIAL EXPLOITATION

MARYLAND – STATEWIDE AND COUNTY LIST OF HUMAN SERVICES AND STATE AGENCIES

ABOUT PROTECT WEEK

During PROTECT Week, June 10-15, 2019, Marylanders will have an opportunity to learn about the many forms of abuse, neglect and financial exploitation of older adults via local events and resources provided by local and national collaborators including the Maryland Office of the Attorney General, Maryland Department of Aging, Maryland Commissioner of Financial Regulation, CCCSMD, AARP Maryland, and many community-based organizations, including Maryland Volunteer Lawyers Service, Maryland Consumer Rights Coalition, and the Montgomery County Office of Consumer Protection.

PREVENTING ELDER ABUSE AND NEGLECT

Did you know that every day 10,000 peopleturn 65 in the United States? Our demographics are shifting and we will soon have more older adults in the U.S. than ever before. Every year, an estimated 5 million older Americans are victims of elder abuse, neglect, or exploitation and that’s only part of the picture. According to the National Academies of Sciences, Engineering, and Medicine, an estimated 93% of elder abuse cases go unreported each year.

ELDER FINANCIAL EXPLOITATION

Each year, hundreds of cases of financial exploitation of older and vulnerable adults are reported in Maryland. The results can be devastating — emotionally and financially. This, however, is estimated to be only a fraction of the thousands of cases that go unreported in our state. Financial exploitation of seniors can be especially devastating because seniors have fewer, if any years, or employment to make up the funds they have lost to scammers and, in far too many cases, family and “friends.”